Manageability Should be Promoted So As Europe will Handle Crisis with Honor: EU Commissar
Azerbaijan, Baku, 7 October/ Trend l, corr A. Badalova/ The European Union will be introduced eight principles to solve financial crisis related problems, Christine Lagarde, Minister of Finance of France said at a press conference in Luxemburg.
Lagarde said tax burden was discussed at the meeting of EU ministers of economy and finance.
їWe wanted to cut value added tax. The debated in this direction will continue to pass a final decision in November,ї Lagarde said at a press conference aired by Russian Vesti TV channel.
One of the short-term goals today is insuring depositors against losses because of word financial crisis, he said.
їWe should deal with the managements [large banks and companies] who took extra risks and passed wrong decisions,ї Lagarde said.
їTransparency of bank activities is one of the key principlesї.
Joaquin Almunia, European Commissioner For Economic And Monetary Affairs said at the press conference that negative impact of system risks on markets must be prevented.
їWe should promote manageability so as Europe will handle this situation with honor,ї Almunia said.
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